Banking

  Bloomberg Indian sovereign bonds will recover from their biggest loss in more than three years as benign cash conditions in the banking system spur demand for debt and policy makers return to cutting interest rates in early 2017, according to HSBC Holdings Plc. The benchmark 10-year yield jumped 21 basis points to 6.41% on Wednesday, the biggest increase since ...

  Bloomberg ABN Amro Group NV agreed to sell its private-banking assets in Asia and the Middle East to Liechtenstein-based LGT Group, following its European rivals in shrinking overseas operations. The unit manages about $20 billion in Singapore, Hong Kong and Dubai, representing about 10 percent of its private-banking assets globally, the Dutch bank said in a statement on Tuesday. ...

  Bloomberg Barclays Plc agreed to sublet office space in London’s Canary Wharf financial district to the UK government, saving the cost-pressured British bank about 35 million pounds ($45 million) a year. The Cabinet Office will lease about 540,000 square feet of space in 10 South Colonnade, according to a statement on Barclays’s website Tuesday. IT and human resources staff ...

  Bloomberg HSBC Holdings Plc plans to step up hiring in China for its retail and wealth business next year as the U.K. lender persists with its expansion there despite the country’s economic slowdown and measures to stem capital outflows. The bank increased the number of retail-bank employees in China’s Pearl River Delta by 57 percent in the 12 months ...

  Sydney / AFP Australia’s central bank held interest rates at a record low of 1.50 percent on Tuesday despite a recent run of soft economic data but weak inflation figures kept the door open for future cuts. The Reserve Bank of Australia has cut rates by 300 basis points since November 2011 to support growth in non-resources industries as ...

  Bloomberg Banca Monte dei Paschi di Siena SpA shares seesawed on Monday after Prime Minister Matteo Renzi’s decision to resign added to uncertainty about the bank’s plans to raise as much as 5 billion euros ($5.3 billion) in capital by the end of the year. The struggling lender was down 0.8 percent at 11:12 a.m in Milan as investors ...

  Bloomberg Bond investors are weighing rising risks that smaller Chinese banks will fail against growing signs the government will do anything to avoid a financial meltdown. A lender called Guiyang Rural Commercial Bank Co. in the southwestern province of Guizhou sparked concern that risks among smaller lenders are spreading after its rating outlook was cut last month following a ...

  Bloomberg European Union lawmakers plan to soften draft rules on asset-backed securities after concerns that an earlier proposal would hinder a market-revival drive. Negotiators for the main political parties in the European Parliament’s Economic and Monetary Affairs Committee agreed to give ground on risk-retention levels, the most contentious aspect of their initial plan. The risk-retention requirement is intended to ...

  Brasília / AFP Brazil’s central bank cut its key interest rate for the second month running, as data showed that the recession hitting Latin America’s largest economy continued into the third quarter. The central bank lowered the benchmark Selic rate by a quarter of a percentage point, to 13.75 percent — still one of the world’s highest. “The available ...

Emirates Business Barclays was named Best Overall GCC Private Bank at the WealthBriefing GCC Region Awards 2016, further emphasizing the bank’s continuous commitment to delivering outstanding services in the private banking sector across the region. This recognition from Wealthbriefing comes from a distinguished panel of independent jury members and is considered to be one of the most prestigious awards for ...